Taxes

A report released Tuesday says that in 2014 approximately 1.5 million New Yorkers will be eligible for premium tax credits that will help them pay for health coverage. According to the report by Families USA, a national health consumer organization, most of those eligible for the premium tax credits will be in working families and have incomes between, $47,100 and $94,200 for a family of four. Rea

Refunds totaling just over $65 million may be waiting for an estimated 62,000 New York taxpayers who did not file a federal income tax return for 2009, the Internal Revenue Service announced.

The IRS reminds taxpayers to choose tax return preparers carefully. As the April 15 tax return filing deadline approaches, taxpayers are reminded of the importance of finding honest and qualified tax professionals if they need help with preparing and filing their tax returns.

Local sales tax collections in New York State grew by $450 million in 2012, an increase of only 3.3 percent from 2011, according to a report issued Thursday by State Comptroller Thomas DiNapoli. New York City had a slightly better growth rate of 3.5 percent.

A study commissioned by convenience stores concluded smokers don't pay taxes on half of all the cigarettes they smoke in New York State. The study says the state loses at least $1.67 billion in tax revenue on those cigarettes, which are bought at Indian reservations, military bases, duty-free or in states where taxes are lower. That doesn't include black-market and counterfeit cigarettes. Read Mor

Residents of the city of Norwich are upset with a proposed tax rate of 9.84 percent for 2013.

The Internal Revenue Service is issuing a warning about a new tax scam that uses a website that mimics the IRS e-services online registration page.

The Washington D.C.-based tax foundation made some waves earlier last week when it handed New York State a last place spot in its national rankings of the tax-friendly or unfriendly states.

Less than one month remains until the Oct. 15 the deadline for 560,000 New Yorkers who requested a six-month extension to file their 2011 individual income tax returns. Nationwide about 10.5 million taxpayers requested an automatic six-month extension this year.

State Comptroller Thomas DiNapoli says weak tax revenues in May and June, coupled with increasing indicators of softening in the economy, indicate a need for heightened caution through the remainder of New York State’s 2012-13 fiscal year.